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The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A …
Persistent link: https://www.econbiz.de/10003301388
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also suggest a non-linear effect of central bank financial stability transparency on financial stress. Unless the financial …
Persistent link: https://www.econbiz.de/10011374311
We examine how the transparency of the European Central Bankś monetary policy affects the amount of trust that the citizens of the European Union have in this institution. We use nearly half a million individual responses from the European Commissionś Eurobarometer survey from 2000-2011 and...
Persistent link: https://www.econbiz.de/10011375697
The empirical literature on central banking has found measures of central bank independence/conservatism to be …. We find that an increase in central bank conservatism leads to higher short-term interest rates and a more activist … economy, higher output and somewhat lower inflation. We also investigate the interaction between the central bank and the …
Persistent link: https://www.econbiz.de/10009781685
welfare gain associated with making the central bank less conservative than society, however if the outside option is in real … of central bank conservatism. …
Persistent link: https://www.econbiz.de/10011397779
We examine whether central banks' voting records help predict the future course of monetary policy in the Czech republic, Hungary, Poland, Sweden and the United Kingdom, controlling for financial market expectations. Unlike previous research, first, we examine the period of the global financial...
Persistent link: https://www.econbiz.de/10010461227
We examine the European Central Bank's ad-hoc communication and explore how it informs future monetary policy decisions …. Using the rich dataset of the intermeeting verbal communication among the members of the European Central Bank's Governing …
Persistent link: https://www.econbiz.de/10012010470